Table of Contents
Betting on Horse Racing in Arkansas in 2024
-
Shawn West
- May 7, 2024
Arkansas doesn’t have many racetracks, but it is still an important location on the horse racing map with the biggest stop on the way to Churchill Downs, the Arkansas Derby. Winners of that race are immediately put onto the short list of Kentucky Derby favorites each year.
While the licensed sites in Arkansas offer racebooks, they can’t also provide other services. To bet on sports or play casino games and poker for real money, you need to use one of the online sportsbooks located offshore, which are outside the jurisdiction of Arkansas law. We round up the best options below.
| SPORTSBOOK | TRUST SCORE | ONLINE SINCE | Expert Review | BONUS |
|---|---|---|---|---|
BetOnline
|
2001 | Read Review | ||
|
Bovada
|
2011 | Read Review | ||
|
Heritage Sports
|
2001 | Read Review | ||
|
Bookmaker
|
1996 | Read Review | ||
|
Everygame
|
1996 | Read Review | ||
|
BetAnySports
|
2002 | Read Review |
Table of Contents
Is horse race betting legal in Arkansas?
Arkansas has a long history of horse racing. Although its legality – and the legality of betting on races – has been a bit of a roller coaster ride. The state banned racing in 1907 but then legalized it again in the 1930s. More recently, the state has allowed online betting on races on a variety of licensed racebooks.
Unlike many states, Arkansas permits tracks to host their own online horse betting sites, so race fans have a selection of different options. None of the licensed options allow gamblers to also engage in other forms of betting, such as online casino games, poker or sports betting. The only place to engage in all those forms of gambling in one place is at an offshore site, which is a platform that operates overseas.
Online horse race betting sites that operate offshore typically have a full-service sportsbook, casino and more.
Arkansas Horse Racing FAQs
Does Arkansas have horse racing?
The state is home to Oaklawn Racing Casino Resort in Hot Springs. Oaklawn is a popular venue that features thoroughbred racing, with its season typically starting in the late winter and continuing through spring.
What horse track is in Arkansas?
Oaklawn Racing Casino Resort, located in Hot Springs, is the big track in Arkansas. It’s a renowned thoroughbred racing venue that hosts prominent races, such as the Arkansas Derby, during its annual racing season.
When and where is the Arkansas Derby?
The Arkansas Derby, an American horse race for three-year-old thoroughbreds, takes place every April at Oaklawn Park in Hot Springs, Arkansas.
How long is the Arkansas Derby?
This Kentucky Derby prep race is run over a distance of 9 furlongs, or 1 1/8 miles.
Our Highest-Rated Online Racebooks
There are dozens of offshore gambling sites that allow Arkansas residents to bet on horse racing, while also offering a wide variety of other betting opportunities with a full online casino experience.
How do you choose the best one? The best way is to get some help from the experts, and we’ve assembled a panel of them who have evaluated hundreds of online horse race betting sites and recommended the following 10 as the best racebooks in Arkansas.
- Bovada – Best horse betting loyalty program
- BetOnline – Outstanding cashback rebate program
- Heritage Sports – All gamblers receive VIP treatment
- BookMaker – The best all-around racebook in Arkansas
- BetAnySports – Rebates and promotions help gamblers profit
- SportsBetting.ag – Betting limits are among the highest
- WagerWeb – Same-day payout for Bitcoin users
- JustBet – Fast, efficient user interface to place bets quickly
- Everygame – One of the longest track records of any racebook
- BetUS – Handicap big races with help from their podcasts and videos
Comparing the Best Racebooks Available in Arkansas
1. Best Horse Betting Loyalty Program: Bovada
Key Features
- The best loyalty program for Arkansas race bettors
- Pays up to $100,000 for Triple Crown and $30,000 for other major races
- More racing future betting options than anyone else
Bovada occupies the No. 2 spot in our experts’ recommendations for the best Arkansas racebooks. Bovada has earned an army of loyal customers by overwhelming them with variety. No other site offers as many betting markets and online betting options as Bovada. They have a world-class sportsbook and casino in addition to the racebook, as well as the busiest online poker room in America. Their sports prop betting menu and library of casino game titles are both enormous, again, flooding gamblers with options.
The racebook is on-brand, offering more futures betting options than any other site. It also has a diverse and varied racing schedule, including races from tracks across America, mainland Europe, the U.K. and Ireland, South Africa, Asia and Australia. For the biggest races on the calendar, like the Triple Crown, Arkansas Derby and Breeder’s Cup, Bovada goes big. It pays up to $100,000 on Triple Crown races and $30,000 on other major races. Their loyalty program for horseplayers also earned recognition from our experts for being the best available in Arkansas. They even offer virtual horse betting in their online casino, with the opportunity to race simulated horses, greyhounds or even camels. Plus, Bovada promo codes further enhance the platform’s overall value.
2. Outstanding Cashback Rebate Program: BetOnline
Key Features
- The most generous horse racing rebate program returns up to 4% of straight bets and 9% of exotic bets
- The most gambler-friendly fixed odds for big races
- Welcome bonus includes a $25 risk-free bet for the racebook
- Great sportsbook, online slot games, casino table games and poker room
BetOnline gets an A+ rating from our experts, a spot in the top five racebooks in Arkansas and special recognition for having the best cashback rebate program for horse racing.
BetOnline’s generous promotional program gives back 4% of the amount wagered on straight bets (win, lose or show). Unlike many racebooks, the rebate percentage isn’t applied to just the amount of your racebook losses. It is applied to the total volume of your horse betting, regardless of whether the bet is won or lost. For exotic bets, they refund 9%, and that percentage is also applied to the total amount bet, not the total amount lost. There are also various BetOnline promo codes you can use to secure a great deposit match offer too.
The site carries races from tracks in the U.S., Australia, the U.K., Ireland, France, South Africa and Japan. BetOnline also goes outside the usual thoroughbred race betting and carries more hard-to-find racing, like Swedish harness racing. For fixed-odds races, which is the method used for the biggest races of the year – the Kentucky Derby, Preakness, Belmont Stakes and Breeders Cup – BetOnline offers the most gambler-friendly odds you’ll find, and they post them several weeks prior to the race for futures betting.
3. All Gamblers Receive VIP Treatment: Heritage Sports
Key Features
- The best VIP red-carpet service for all gamblers
- Pays full track odds on major races and tracks
- Features the best mobile betting interface
- Limits go up to $1,000 at 16 major tracks, $500 at 14 other top tracks
Heritage Sports impressed our experts with the VIP treatment they offer to every gambler on their site. It’s a skill Heritage Sports perfected back in the early days of the site when it catered to a high-rolling, wealthy clientele and was invitation-only, reserved for the elite. They’ve opened their doors to everyone, but Heritage Sports still gives its customers the red carpet treatment.
The VIP treatment includes an enticing cashback rebate program on losses on horse racing bets. They also have outstanding customer service, generous promotional offers and the best horse betting interface for mobile devices in Arkansas.
Heritage Sports carries races from 60 tracks around the world, including the U.S., Ireland, the United Kingdom, mainland Europe, Japan, Australia, Hong Kong and South Africa. Thirty of the biggest tracks are given special treatment with higher limits. The top 16 are categorized by Heritage Sports as major tracks and betting limits go up to $1,000 on straight bets and $200 on exotics. Another 14 are on the second highest tier and have $500 straight bet limits and $100 on exotics.
4. The Best All-Around Racebook in Arkansas: BookMaker
Key Features
- Cashback rebates of 3% on losses on straight bets and 8% on exotics
- Lines and odds are posted earlier than other sites
- High betting limits and low minimum bets make room for all gamblers
- Loyalty program rewards all customers, regardless of bankroll size
Bookmaker.eu finished in first place in our experts’ rankings of the 10 best horse racing betting sites in Arkansas. It covers thoroughbred horse race action from more than 50 tracks around North America and a selection of international tracks and races in Europe, as well. Their cashback rebate program returns 3% of all losses on straight bets (win, place and show) and 8% on exotic (exactas, trifectas, daily doubles, etc.) bets. There are also a variety of other promotional offers available at BookMaker.
Bookmaker has a reputation for being able to make gamblers of all levels feel welcome, from brand-new, cautious rookies to sharp bettors. They have some of the highest betting limits of all online gambling sites, and minimum bets go as low as $1, meaning that everyone will be able to find a bet size that fits their appetite for risk. BookMaker also has one of the best VIP loyalty programs, and customers can earn rewards regardless of their bankroll size.
5. Rebates and Promotions Help Gamblers Profit: BetAnySports
Key Features
- Cashback rebate applies to all betting activity, not just losses
- Offers a 10% profit boost program
- Win limits are the highest in Arkansas
- Welcome bonus can be used in the racebook
BetAnySports has built a reputation of offering the best value to gamblers with a sportsbook that features the most generous reduced juice odds in Arkansas, as well as gambler-friendly odds and lines across the board.
Their racebook keeps in step with the sportsbook, offering plenty of value with a variety of ways to bolster the bankrolls of the gamblers who play there. It has one of the more generous cashback rebate programs around, returning a percentage of everything its customers bet on horse races. The rebate applies to all money bet, regardless of whether the bet wins or loses. And the rebate percentages are generous, returning 3% on straight bets. The exotic bet rebate percentage is on a sliding scale, starting at 6% of betting activity and going as high as 9%, depending on your activity level.
If that isn’t enough, BetAnySports also has a “Plus 10% Racebook” program. It provides an additional 10% profit boost on selected races and tracks, which is a better payout than you’ll find going to most tracks in person.
Our Racebook Rating Methodology
Our panel of experts looked at hundreds of horse racing betting sites on a number of important factors to determine their rankings. They considered the variety of racing action on offer, looking for tracks from around the world as well as different types of horse racing variations, such as harness racing. The online gambling sites were also evaluated based on the promotions they offer, including welcome bonuses, cashback rebate programs and VIP loyalty programs. The quality of their customer service was considered, as were online reviews from customers.
Arkansas Gambling History
When it comes to gambling in Arkansas the legal landscape has had extreme swings in both directions – from statewide bans to an embrace of the industry and back. The original state constitution, in 1874, banned all forms of gambling, calling for a prohibition on “lotteries” in all forms.
Almost immediately, people who were more open to the pastime were looking for loopholes by stretching the definition of what qualified as a “lottery.” Horse racing began in the 1890s, followed almost immediately by horse betting. The first casino opened at Oaklawn Racetrack in 1905.
Then the pendulum swung back in the other direction, with the state banning horse racing two years later. That would last three decades before Arkansas once again legalized betting on horse and greyhound racing in 1935. However, the anti-gambling forces then focused on casino gaming, cracking down on the practice and the last casino closed before the end of the 1960s.
Now, we’re in the midst of a swing back toward acceptance of gambling. In the last two decades, Arkansas has seen laws passed allowing gambling machines to return to racetrack “racinos.” A state lottery was adopted. And, most recently, Arkansas has paved the way for sports betting.
The legislature debated the issue for several years, a debate that was slowed somewhat by the state’s schedule for lawmakers, who only meet to pass legislation in odd-numbered years. In 2017, the legislature approved daily fantasy sports and put together a referendum that the public voted on in 2018 – Amendment 100. The change to the state constitution passed, allowing Arkansas to build four casinos that could provide table games, slots and a retail sportsbook, as the amendment also legalized betting on sports in person. Three of the casinos have currently been built, with the fourth one pending. The existing casinos are Oaklawn Racing Casino Resort in Hot Springs, Saracen Casino Resort in Pine Bluff and Southland Casino in West Memphis.
In 2021, the legislature expanded sports betting to include online sportsbooks, in addition to brick-and-mortar sports betting locations.
Timeline of Arkansas Gambling
- 2022: The first legal online sports bets are placed online through state-licensed online sportsbooks.
- 2021: An online sports betting bill sponsored by Lee Johnson is signed into law by the Governor.
- 2019: The first legal bets are placed at Oaklawn Racing Casino Resort.
- 2018: Amendment 100 for casino gambling and sports betting is approved by voters. Four casinos are approved to begin operation and open retail sportsbooks.
- 2017: Daily fantasy sports is sanctioned by the state.
- 2008: A state lottery is started.
- 2005: Racetracks can now provide electronic gaming machines, bringing “racinos” back to the state.
- 1967: The last racinos and casinos, located in Hot Springs, close.
- 1935: Betting on horse and greyhound races is legalized in the state.
- 1907: A law prohibiting horse racing is enacted.
- 1905: Oaklawn Racing & Gaming, which would go on to become Oaklawn Park opens in Hot Springs.
Key Features of the Best Racebooks
While each racebook is different, offering a unique betting experience, there are some things that all of the top racebooks have in common. Our experts identified a set of factors we use to rate each operator, that are critical to a well-rounded online betting experience. In order to be considered one of the top offshore sites, they had to impress our panel in the following areas:
Gambling Odds
Odds should be fair and competitive to other sites and in-person betting locations. Gamblers should feel like they have a legitimate chance to win money, and that the risk is reasonable.
Betting Markets
Top racebook sites should provide a variety of different forms of gambling, including sports betting, online casino games and even poker. The racebook should also have a variety of races and tracks as well as betting options.
Banking Options
There should be a number of different ways to fund your account and accept payouts of your winnings. Top sites should offer traditional banking methods, such as credit and debit cards and bank transfers. They should also have newer methods, such as e-wallets and crypto.
Promotions & Bonuses
Racebooks should make it worth your while to choose them and remain with them. Top sites pay out competitive welcome bonuses with a deposit match that adds a percentage of your initial deposit to your account as a bonus. Ongoing promotions should include cashback rebate programs, VIP loyalty programs and risk-free bets.
Live Betting
Live betting has exploded in popularity in sportsbooks, and, even though most horse races are very short, it should be offered as an alternative to the usual online betting. Sites should also have live streaming of races, since it’s often difficult to find videos of small, obscure tracks and events.
User Experience
The user experience at a top racebook should be exciting and entertaining. The user interface should be easy to navigate and free of technical problems. The site should be attractive and responsive, allowing you to place bets without a great deal of delay and unnecessary clicking.
Mobile Experience
Mobile wagering has become more popular than betting using a computer, meaning that top sites should pay close attention to their mobile sportsbooks. They should be at least as functional, attractive and easy to use as the full-blown site, and the mobile betting experience should be smooth and easy. Many sites offer mobile apps to make it easier to use your phone or tablet to bet, and some even have separate horse racing betting apps.
Customer Service
At some point, you’ll have a question or an issue, and the top sites should make it easy to get help. Customer service should be available and reachable, ideally 24/7, in a variety of languages. Wait times should be short, and there should be multiple ways to reach them, including phone, live chat and email.
Security Features
Security is important whenever you are sending money online, and particularly when you’re sending it to an offshore gambling site you might not be familiar with. Our panel took a close look at each site’s security record and eliminated any that didn’t meet the grade.
Arkansas Horse Racing Betting Odds
There are two different ways to bet on horse races – fixed odds and pari-mutuel odds. Fixed odds are generally reserved for the biggest races of the year, such as the legs of the Triple Crown. The vast majority of all races use the pari-mutuel method.
Fixed Odds
Fixed odds are similar to a moneyline futures bet at a sportsbook. Each horse in the field gets moneyline odds listed in a positive or negative dollar amount. Negative odds mean that the horse is a favorite and the amount is how much a bettor would have to risk to win $100 on the horse. For instance, a horse with -110 odds means you’d have to bet $110 to win $100.
Positive fixed odds is the amount you’d win with a $100 bet. So a horse listed at +500 means you’d win $500 with a $100 bet. You’d also get your $100 back, for a total payout of $600. The odds are scaled based on the amount you bet, so a $10 bet would win $50 on the +500 horse.
Pari-Mutuel Wagering
Pari-mutuel wagering is a little less familiar to most people who haven’t bet on horses before. All the money bet on a race is put into a pool. After expenses and fees are taken out, the rest of the pool is divided up among the winning bets, based on the amount wagered. Pari-mutuel betting is a little like a large multi-state lottery game, like Powerball, where the jackpot is based on how many tickets are sold. In both cases, you don’t know the exact amount of the payout until after it is over.
Pool Betting
You may hear the term Pool Betting. That’s just a synonym for pari-mutuel wagering. They both mean the same thing.
Calculating Horse Racing Betting Odds in Arkansas
On some online horse racing betting sites, you may see fixed odds listed as a fraction instead of a dollar amount. Fractions less than one correspond to negative moneylines and greater than one correspond to positive. Both odds listings are related to the expected probability that the horse will win the race. The higher a horse’s probability of winning, the more negative the moneyline will be and the smaller the fraction. The lower the probability, the higher the positive moneyline and the bigger the fraction.
The following chart compares fractional odds, moneyline odds and the win probability, as well as the payout amount horse racing bettors would receive for a $2 bet.
| Horse Racing Odds | $2 Wager Payout | Implied Probability of Winning |
|---|---|---|
| 1/5 (-500) | $2.40 | 83.33% |
| 1/4 (-400) | $2.50 | 80% |
| 1/3 (-300) | $2.60 | 75% |
| 1/2 (-200) | $3.00 | 66.67% |
| 4/6 (-150) | $3.33 | 60% |
| 1/1 (-100) | $4.00 | 50% |
| 2/1 (+200) | $6.00 | 33.33% |
| 3/1 (+300) | $8.00 | 25% |
| 5/1 (+500) | $12 | 16.67% |
| 10/1 (+1000) | $22 | 9.00% |
| 50/1 (+5000) | $102 | 1.96% |
Payout amounts include getting back your $2 bet. So the 50/1 horse in the last line of the chart would win you $100, plus your original $2 returned to you for a total payout of $102.
Arkansas’ Commonly Placed Horse Racing Bet Types
Part of the excitement of gambling on horses is the wide variety of different ways you can bet. Here’s a quick look at some of the most popular bet types.
- Win: The most common bet. You pick the horse you think will win a race.
- Place: You pick a horse and your bet pays off if it finishes first or second in the race.
- Show: Your bet pays off if the horse you pick finishes in the top three spots.
- Exacta: You pick the top two finishers in a race, in order.
- Trifecta: Similar to an exacta, except you pick the top three horses to finish, in order.
- Superfecta: Similar to exactas and trifectas, you pick the top four finishers.
- Daily Double: You pick the winners of consecutive races. Both must win for the bet to pay off.
- Pick 3/4/5/6: Similar to a daily double, but you pick the winners of consecutive races. For example, a Pick 3 would be three consecutive races and a Pick 5 would be five.
Common Horse Racing Betting Terms
To bet on horses, you’ll need to speak the language. Here are some common horse racing terms you might come across.
- Ante-Post: A bet placed before a race’s betting window opens. Basically, it’s a futures bet on a race
- Drifter: A horse whose odds get worse (or longer) as post-time gets closer. A steamer is just the opposite – a horse whose odds steadily improve.
- Dead Heat: Two or more horses finish at exactly the same time, resulting in a tie.
- Dutch: Betting on multiple horses in the same race to cover more than one possible outcome and hedge your bet.
- Exotic Bet: The opposite of a straight bet, it involves multiple horses and/or races. Examples are exactas, daily doubles and trifectas.
- Favorite: The horse that has the best odds of winning a race.
- Furlong: A measure of distance that is used to report lengths of races. One furlong is an eighth of a mile.
- Longshot: The opposite of a favorite – a horse believed to have very little chance of winning and thus has high odds and a large potential payout.
- Morning Line: The odds posted by the track handicapper at the start of race day. They then change based on betting activity.
- Odds: The payout for a successful bet. It is related to the expected probability of the horse winning.
- Pari-Mutuel: The odds system used at most races. All money bet is put into a pool and divided among the winning tickets.
- Stake: The amount that the owner of a horse needs to pay to enter their horse in a race.
Horse Race Types
The Kentucky Derby and most horse races like it are examples of thoroughbred racing. While popular, that is just one type of race. Online horse betting sites offer the chance to bet on races and race types from around the world. Here are some of the most common types of horse races you’ll come across.
Flat Racing
Flat races are races that do not have any obstacles that the horse must avoid or jump over. Thoroughbred racing is one example of this type of race, but there are many other flat racing styles as well.
Steeplechase Racing
This type of race is the opposite of flat racing. Horses jump over obstacles, like fences and ditches. It is supposed to be a throwback to horse races across the British countryside hundreds of years ago.
Harness Racing
This type of race has the horse pulling a two-wheeled cart behind it. The jockey doesn’t ride on the horse but is in the cart. Horses in harness racing usually trot instead of running full speed like in thoroughbred racing.
Endurance Racing
This type of race is held over a long distance. In the U.S., they may be 50 or 100 miles.
How To Create an Online Racebook Account
The process of signing up for an account at horse racing betting sites like the ones in our top 10 is fast and easy.
Step 1. Sign-Up
Pick one of the sites our experts recommended in the top 10. Go to their web page and click on the button to create a new account.
Step 2. Verify Your Racebook Details
Fill out the registration form and verify your identity, usually by responding with a code texted to your phone.
Step 3. Deposit Your Funds
Now you need to put money in your new account. Pick a deposit method from the ones listed on the cashier page. Enter your financial information, the amount of the deposit and the promo code to collect your welcome bonus.
Step 4. Place Your Wagers
Believe it or not, that’s it. You’re ready to find some appealing odds and start wagering on horse racing. Good luck.
